EMCC European Monitoring Centre on Change


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Geographic Location

Country: Greece
Location of affected unit(s): All over Greece


Sector: Information / communication
61 - Telecommunications
Number Employed: 186
Group: Hellenic Telecommunications Organization (OTE)

Employment Effects

Announcement Date: 07-09-2011
Planned Job Reductions min: 186
Type of Restructuring: Closure
Employment Effect Start: 07-09-2011
Foreseen End Date: 31-10-2011
Other Job Reduction Measures: 186

Additional Information

Hellenic Telecommunications Organization, the biggest telecom provider in Greece, launched an exit scheme for 186 employees.

Hellenic Telecommunications Organization (OTE) announced at the beginnings of September its plans to close 77 OTE Shops and 61 customer service points. Management reportedly proposed to 186 affected employees exit incentives, with the compensation ranging from €17000 to €103000. Alternatively, the employees could leave for two years and receive 50% of their payroll. The sources say that the employees that do not accept either option will be relocated to other positions within the group.

Hellenic Telecommunications (OTE) is still the biggest player in Greece. OTE, has about 7 million fixed access lines in service and provides local, long-distance, and international telephone calling. It also offers broadband Internet services (through ISP OTEnet) to more than 800,000 residential and business customers. Other wired services include leased lines, data hosting, and wholesale telecom services. Subsidiary Cosmote provides wireless service to more than 6 million subscribers on its GSM-based network. OTE's international holdings include subsidiaries in Albania, Bulgaria, Romania, and Serbia.

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